LPL Financial Holdings Inc. (NASDAQ:LPLA) Shares Sold by National Pension Service

Key Points

• The National Pension Service reduced its stake in LPL Financial Holdings Inc. by 4.5%, owning approximately 114,321 shares valued at $37.4 million after selling 5,403 shares in the first quarter.
• LPL Financial reported an EPS of $4.51 for the latest quarter, exceeding the estimate of $4.21, along with a revenue of $3.84 billion, which was above analysts' expectations of $3.77 billion.
• Analysts have mixed ratings on LPL Financial, with price targets ranging from $80.00 to $490.00, and the stock currently holds an average rating of "Moderate Buy" with a consensus price target of $383.58.

National Pension Service reduced its position in LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 4.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 114,321 shares of the financial services provider's stock after selling 5,403 shares during the quarter. National Pension Service owned approximately 0.14% of LPL Financial worth $37,399,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of LPL Financial by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 7,372,857 shares of the financial services provider's stock valued at $2,411,956,000 after acquiring an additional 154,200 shares in the last quarter. Janus Henderson Group PLC raised its holdings in shares of LPL Financial by 20.6% during the fourth quarter. Janus Henderson Group PLC now owns 3,050,529 shares of the financial services provider's stock worth $996,032,000 after purchasing an additional 522,032 shares during the period. Kayne Anderson Rudnick Investment Management LLC lifted its position in shares of LPL Financial by 2.2% in the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,660,736 shares of the financial services provider's stock worth $868,757,000 after buying an additional 57,485 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in shares of LPL Financial by 35.9% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 1,516,060 shares of the financial services provider's stock valued at $495,964,000 after buying an additional 400,352 shares during the period. Finally, JPMorgan Chase & Co. grew its position in shares of LPL Financial by 8.8% during the 1st quarter. JPMorgan Chase & Co. now owns 1,304,780 shares of the financial services provider's stock valued at $426,846,000 after buying an additional 105,665 shares during the last quarter. Institutional investors and hedge funds own 95.66% of the company's stock.

LPL Financial Stock Down 1.4%

LPLA stock opened at $350.98 on Friday. The firm's 50-day moving average is $375.53 and its two-hundred day moving average is $355.97. The company has a current ratio of 3.22, a quick ratio of 3.22 and a debt-to-equity ratio of 1.41. The company has a market capitalization of $28.08 billion, a price-to-earnings ratio of 24.01, a price-to-earnings-growth ratio of 0.83 and a beta of 0.66. LPL Financial Holdings Inc. has a 52 week low of $204.41 and a 52 week high of $403.58.

LPL Financial (NASDAQ:LPLA - Get Free Report) last announced its earnings results on Thursday, July 31st. The financial services provider reported $4.51 EPS for the quarter, topping the consensus estimate of $4.21 by $0.30. The firm had revenue of $3.84 billion for the quarter, compared to analysts' expectations of $3.77 billion. LPL Financial had a return on equity of 39.80% and a net margin of 7.91%. The firm's quarterly revenue was up 30.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.88 earnings per share. On average, analysts forecast that LPL Financial Holdings Inc. will post 19.35 earnings per share for the current fiscal year.

LPL Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Friday, August 15th will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend is Friday, August 15th. LPL Financial's payout ratio is presently 8.21%.

Analysts Set New Price Targets

A number of brokerages have issued reports on LPLA. Morgan Stanley reissued an "overweight" rating and issued a $490.00 target price (up previously from $450.00) on shares of LPL Financial in a report on Tuesday, July 15th. Barclays raised their price target on LPL Financial from $460.00 to $463.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. Redburn Atlantic upgraded LPL Financial from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $420.00 to $460.00 in a research note on Monday, June 9th. Citigroup cut LPL Financial from a "neutral" rating to a "sell" rating and set a $80.00 target price on the stock. in a research note on Wednesday, July 9th. Finally, Wells Fargo & Company boosted their price target on shares of LPL Financial from $402.00 to $420.00 and gave the company an "overweight" rating in a report on Friday, July 11th. One analyst has rated the stock with a sell rating, two have given a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $383.58.

Insider Transactions at LPL Financial

In other LPL Financial news, Director Greg Gates sold 1,500 shares of the company's stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $374.05, for a total value of $561,075.00. Following the completion of the sale, the director directly owned 19,120 shares of the company's stock, valued at approximately $7,151,836. This represents a 7.27% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.30% of the stock is currently owned by insiders.

LPL Financial Profile

LPL Financial Holdings Inc, together with its subsidiaries, provides an integrated platform of brokerage and investment advisory services to independent financial advisors and financial advisors at enterprises in the United States. Its brokerage offerings include variable and fixed annuities, mutual funds, equities, fixed income, alternative investments, retirement and 529 education savings plans, and insurance.

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